https://www.taxtmi.com/caselaws?id=173341 The court upheld the Tribunal's decision, ruling that income from seed sales qualifies as agricultural income and is exempt from taxation under the Income Tax Act. It emphasized that seeds are products of agricultural activity and cannot be sold commercially unless produced through agricultural means. The court rejected the argument that hybrid seed production through artificial methods could be considered commercial activity, stating that even artificially produced seeds must eventually be sown in agricultural fields for market sale. en-us Fri, 21 Feb 2014 00:00:00 +0530 Mon, 14 Sep 2015 06:52:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173341 The court upheld the Tribunal's decision, ruling that income from seed sales qualifies as agricultural income and is exempt from taxation under the Income Tax Act. It emphasized that seeds are products of agricultural activity and cannot be sold commercially unless produced through agricultural means. The court rejected the argument that hybrid seed production through artificial methods could be considered commercial activity, stating that even artificially produced seeds must eventually be sown in agricultural fields for market sale. Case-Laws Income Tax Fri, 21 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173341